This report is jointly produced by the World Bank and the Cambridge Centre for Alternative Finance at the University of Cambridge Judge Business School. This study intends to understand the global regulatory landscape for alternative finance through the collation of empirical data from regulators, including securities regulators, capital markets authorities and central banks. Focusing on peer-to peer/marketplace lending (P2P), equity crowdfunding (ECF) and initial coin offerings (ICOs), the survey aims to comprehensively and comparatively analyze how regulators from both developing and developed economies are regulating and supervising these online alternative finance activities. Regulators from 111 jurisdictions around the world participated in the survey with 40% of the respondents from high-income jurisdictions and 30% of the respondents from lower middle or low income jurisdictions.

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